Probate is the legal process through which property ownership is transferred into the hands of its rightful new owners after someone dies. During probate, the court attributes value to assets and ensures property and possessions are given to the rightful recipients.
Probate administration, deemed “testate”, means the deceased had a valid Will upon passing that can be applied during probate. In contrast, “intestate” probate means there is no valid Will available for the deceased. Whether the deceased dies testate or intestate determines the type of probate proceedings that follow.
If probate proceedings are “intestate”, it means there is no valid Will in place for the deceased. If you or a loved one dies without a valid Will in place, the intestate probate process that follows will likely be much more complex for those trying to carry out your final wishes.
It’s possible to dramatically shorten probate proceedings if your North Carolina estate does not exceed a certain size or value as determined by the state. Qualifying estates may benefit from simplified probate proceedings, which can require fewer details and shorten the time span necessary to complete all the tasks.
Ancillary Probate comes into play when transferring ownership of property or assets over state lines after someone dies. Probate is governed by the state in which the property owner resided, yet there are also state rules that apply to the owner’s additional out-of-state assets. Ancillary Probate becomes necessary in sorting out assets that are located outside the deceased’s home state. Ancillary Probate occurs in addition to standard probate proceedings as a secondary step.
When a property owner passes away, unless the property was owned with another person who had rights of survivorship, a probate process is necessary to determine what to do with the real estate property left behind. In many cases, probate results in the property being transferred to a beneficiary and/or sold.
Legacy Law Group is here to assist you with any legal decisions regarding your estate, home, and family. We can assist clients throughout North Carolina regarding your specific legal needs.
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